The DeFi Protocol chosen is MANGO MARKETS

Introduction:

Mango is a decentralised platform built on the Solana blockchain that offers a single place to lend, borrow, trade and leverage cryptoassets through a powerful risk engine.

How does it work?

• First, choose your portfolio and then click connect. We can choose from a wider list of Solana portfolios such as Phantom, Slope, Sollet, etc.
• Next, create a MangoAccount to be able to deposit funds. In the account creation mode, first, decide to name your account or not. Next, choose the asset you want to fund your MangoAccount with and enter the amount you want to deposit. You will need 0.035 SOL in your wallet to open a MangoAccount which must be paid as a fee.
• Finally, you will be able to make a deposit into Mango. Within Mango, all your assets are considered "collateral", which means you can use any asset to buy any of the other assets. So something like positions on Mango will naturally work a little differently between spot and perpetual markets and might feel a little different to normal exchanges that don't offer full cross-asset collateralisation already within their platform.

Results

We are going to have a look at several metrics in order to show the "health" of the protocol and what is happening on it.

First of all let’s have a look at the users:

• The first chart provides the daily new users on Mango Markets.
• The CEX providing more new users is FTX, therefore the CEX with more users on Mango Markets is FTX as well.
• Since end-April we can see a big downtrend on users on Mango Markets. Probably due to Market crash and solana outages.

Then, let’s have a look at deposits

• Talking about deposits we can say that FTX predominates all the metrics about deposits

Finally, let’s have a look into transactions

• Tx as well are dominated by FTX
• Less and less tx are happening since May of 2022. Probably due to Market crash and solana outages.